Topic: How to known a Scam ICO - page 25. (Read 30791 times)
The whitepaper have a significant role in it. the aimless and haphazard whitepaper can be pointer of a scam
Always set a smaller goal, don't invest everything on it, if it looks suspicious try to question around, see if other people are aware of this ICO, it needs to be fancy but REALISTIC, never trust people telling you gonna be millionary with the product, to me this is the first step that is a scam, as getting millionary with a start-up is very unlikely and it feels like they are aiming for the ignorant masses.
You need an stricly observation about their project,here i have a extra tips to you ,to know if the ICO have a chance to be scam
*make a research about their project.
*you must know if their project can help in our community.
*know the personalities behind their project.
*strickly observation about their project.
*make a research about their project.
*you must know if their project can help in our community.
*know the personalities behind their project.
*strickly observation about their project.
Airdrops, Bounties, Free Forks, etc - there are a lot of new coins showing up with really attractive ways to convince people to get involved and talking about them. However, as we all know, there are plenty of "pump-and-dump" scams, private key thieves, and even some (potentially) exchange-sponsored forks with difficult rules that reward only those who are insiders. So what can you do to protect yourself and ensure that what you are getting into is a worthwhile, safe offering?
- Did you check out the team? Can you find post histories on accepted forums, or verified contributions to the community, or linkedin profiles that have plenty of real connections?
- Whitepaper. First things first, without one, don't consider investing. Almost no exceptions to that rule. If what is there is hastily written or is overly marketing focused instead of technical, that's not a whitepaper, it's a sales brochure. Consider that carefully.
- Have you seen the code, gotten on github and looked at the history? We want to be sure it is really there and that the differences from forked coins are well understood.
- Check out what others are saying. Bitcointalk, Slack, Telegram, Discord, etc - there should be real conversation and real questions answered.
- Depending on the timeframe, a little Google-fu. Is it really new? Maybe try google trends, or news. Look for autocomplete terms like 'scam.' But then also do some searching to figure out where else the coin is mentioned, or the team members, or the concept that is their supposed differentiator.
- Some red flags in the business plan, like significant pre-mining, or large amounts of "advisor" tokens, etc may indicate a quick pump-and-dump.
- Does the development roadmap seem feasible? Are they making significant progress on it, or is everything post-ICO? Same questions about the business plan.
- Did you check out the team? Can you find post histories on accepted forums, or verified contributions to the community, or linkedin profiles that have plenty of real connections?
- Whitepaper. First things first, without one, don't consider investing. Almost no exceptions to that rule. If what is there is hastily written or is overly marketing focused instead of technical, that's not a whitepaper, it's a sales brochure. Consider that carefully.
- Have you seen the code, gotten on github and looked at the history? We want to be sure it is really there and that the differences from forked coins are well understood.
- Check out what others are saying. Bitcointalk, Slack, Telegram, Discord, etc - there should be real conversation and real questions answered.
- Depending on the timeframe, a little Google-fu. Is it really new? Maybe try google trends, or news. Look for autocomplete terms like 'scam.' But then also do some searching to figure out where else the coin is mentioned, or the team members, or the concept that is their supposed differentiator.
- Some red flags in the business plan, like significant pre-mining, or large amounts of "advisor" tokens, etc may indicate a quick pump-and-dump.
- Does the development roadmap seem feasible? Are they making significant progress on it, or is everything post-ICO? Same questions about the business plan.
try to do as much investigation as you can in the ico if they dont have any backround or any info on there ico in might be a scam
In fact, it is difficult to determine the authenticity of the ICO.
But there are a number of factors, which include that the ICO is fake:
1. No road map.
2. Coin with unreal plans.
3. The organizer of the ICO is below the status of "Full Members".
4. No official page on Twitter, Facebook, and other social networks.
5. A rating of less than 3,9.
2. Coin with unreal plans.
3. The organizer of the ICO is below the status of "Full Members".
4. No official page on Twitter, Facebook, and other social networks.
5. A rating of less than 3,9.
As we all know, it is really hard to determine whether an ICO is a scam or not, however, one factor you might want to check is if the project has a working product or precedent business history. I'd say often they have greater chances of maintaining/developing their value than the projects without them.
It is hard to determine a scam ICO,they are a deceiving projects they look like real.Maybe you can consider the managers are reachable and manage by a high rank manager and members are real.
Well, during campaign no one can't tell yet if a project is scam to begin with or scam that will fade away later without a trace. We can say we read all the papers they presented and sometime people are so much creative for readers not to suspect some details written in their document, so keep your self updated also.
As for starter, I suggest you buy coins in the exchange if you wish to hold for the first time, since disappointment rate will be low compared to buying token from ICO in your first purchase and hold. Go!
As for starter, I suggest you buy coins in the exchange if you wish to hold for the first time, since disappointment rate will be low compared to buying token from ICO in your first purchase and hold. Go!
thanks for the thread, it was usefull info. i wanted a way to avoid the shit coin icos
Based on my experience, I’ve singled out several criteria which speak for a serious ICO, which is to be successful. These are:
1. White Paper of good quality: a well-structured document with all the necessary information given in a comprehensible way.
2. Professional team: people with rich experience whose short bio I can read on the website and in the WP.
3. Social media: if the project has accounts in the most popular social media, where decent content is posted, be sure – the team is really into it. The existence of Telegram chat with active discussions of the project is a must.
4. The aim: ICO should have a real-life issue to tackle; otherwise, nobody will get interested.
I would also recommend you to buy coins at the pre-ICO stage. The coins are sold with a discount during this period and you will be able to sell them after the ICO in a more profitable way
1. White Paper of good quality: a well-structured document with all the necessary information given in a comprehensible way.
2. Professional team: people with rich experience whose short bio I can read on the website and in the WP.
3. Social media: if the project has accounts in the most popular social media, where decent content is posted, be sure – the team is really into it. The existence of Telegram chat with active discussions of the project is a must.
4. The aim: ICO should have a real-life issue to tackle; otherwise, nobody will get interested.
I would also recommend you to buy coins at the pre-ICO stage. The coins are sold with a discount during this period and you will be able to sell them after the ICO in a more profitable way
Please tell me how to known a scam ICO to protect myself
BTW now i should buy ICO coin or buy coin on exchange?
Thank so much
99,9% ICO's are scam's BTW now i should buy ICO coin or buy coin on exchange?
Thank so much
How to know its real deal?
1. The Developers Are Anonymous
2. The Token Does Not Have a Clear Use Case
3. The Whitepaper Sets Unrealistic Goals
Don't waste ur time in ICO's
You can check website and team development. Check google and read whitepaper
Thank you for this post. It helped out a lot to the beginners like me to know the kind of scams 
A obvious scam project is lack of open profiles the developers are Anonymous, no technical details in the whitepaper, unrealistic goals and missing code repository.
1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown. While it’s true that the creator of Bitcoin
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token. The token should serve a key purpose in the startup’s platform. If it does not, the token will not sustain its value over the long-term. Related to this problem are tokens that advertise themselves merely as digital currencies without offering any real innovations or improvements upon existing cryptocurrency technology.
3. The Whitepaper Sets Unrealistic Goals
To avoid falling prey to ICO scams, token buyers should educate themselves and conduct due diligence before deciding to contribute to a project. Strategic Coin offers numerous resources to assist token buyers with their research, including token analysis reports and exclusive interviews with startups conducting token generation events.
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown. While it’s true that the creator of Bitcoin
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token. The token should serve a key purpose in the startup’s platform. If it does not, the token will not sustain its value over the long-term. Related to this problem are tokens that advertise themselves merely as digital currencies without offering any real innovations or improvements upon existing cryptocurrency technology.
3. The Whitepaper Sets Unrealistic Goals
To avoid falling prey to ICO scams, token buyers should educate themselves and conduct due diligence before deciding to contribute to a project. Strategic Coin offers numerous resources to assist token buyers with their research, including token analysis reports and exclusive interviews with startups conducting token generation events.
How to identify a good or bad ICO project. Pham Anh Quang August 25, 2017
What is a good ICO project?
This depends on each particular project, and the whole team behind that project. Selecting a good ICO is an extremely lucky option for investors.
A good example is Storjcoin. Storjcoins are the tokens, which are released by Storj.io in its ICO. Storj.io is a distributed cloud storage application, and when its main product is released, users will be able to spend Storjcoins on the storage space, in addition to being able to trade them like any other. other coin.
Another prominent example is Ethereum, which was sold at a starting price of only 0.005 BTC, and now you can see its growth potential. Ethereum is a platform for building decentralized applications of all kinds. The cards of the company called Ethers are actively used to maintain the operation of the applications that were built on the smart contract platform.
In theory, the ICO code can be used for anything, similar to Ethereum. The scope of use may be dependent on the scope of the project.
To choose a good ICO project we need to find out about the coin
For example you can go to coinmarketcap.com to find out, then you view its webisite to know about the value of coin. The point in it should be clear blockchain, have cold storage as possible.
How to spot a bad ICO?
There are some signs of a potentially fraudulent ICO: anonymous developers, lack of wallet and unclear or unrealistic goals. The development team has no outstanding biography, or ghost biography.
The cryptocurrency community has had to face some ICO scams in the past few years. Most of these campaigns will be flagged red, and by detecting you can avoid potential companies:
The developers of the project are either unknown or not known to the community. If the people behind an ICO are not very reputable, the chances of them operating a scam ICO is quite large.
No donation wallet for donations. If all the contributions of donors are concentrated in the hands of the project owner, there is nothing to prevent them from running away with money.
Unrealistic / ambiguous goals. When a project has no clear road map, in fact, it means that the people behind it do not know what they are doing, preferably. At worst, they do not really care because they do not really do anything.
Lack of transparency. Today, showing the stages being performed in your project to the audience is considered an industry standard in crypto. If developers do not release code, demo / beta versions of their product, behind-the-scenes video or other types of reports on their progress, maybe they have nothing to show.
If you have found an ICO campaign that displays any of the above, and especially any combination thereof, it is best to avoid contributing money to it.
What is a good ICO project?
This depends on each particular project, and the whole team behind that project. Selecting a good ICO is an extremely lucky option for investors.
A good example is Storjcoin. Storjcoins are the tokens, which are released by Storj.io in its ICO. Storj.io is a distributed cloud storage application, and when its main product is released, users will be able to spend Storjcoins on the storage space, in addition to being able to trade them like any other. other coin.
Another prominent example is Ethereum, which was sold at a starting price of only 0.005 BTC, and now you can see its growth potential. Ethereum is a platform for building decentralized applications of all kinds. The cards of the company called Ethers are actively used to maintain the operation of the applications that were built on the smart contract platform.
In theory, the ICO code can be used for anything, similar to Ethereum. The scope of use may be dependent on the scope of the project.
To choose a good ICO project we need to find out about the coin
For example you can go to coinmarketcap.com to find out, then you view its webisite to know about the value of coin. The point in it should be clear blockchain, have cold storage as possible.
How to spot a bad ICO?
There are some signs of a potentially fraudulent ICO: anonymous developers, lack of wallet and unclear or unrealistic goals. The development team has no outstanding biography, or ghost biography.
The cryptocurrency community has had to face some ICO scams in the past few years. Most of these campaigns will be flagged red, and by detecting you can avoid potential companies:
The developers of the project are either unknown or not known to the community. If the people behind an ICO are not very reputable, the chances of them operating a scam ICO is quite large.
No donation wallet for donations. If all the contributions of donors are concentrated in the hands of the project owner, there is nothing to prevent them from running away with money.
Unrealistic / ambiguous goals. When a project has no clear road map, in fact, it means that the people behind it do not know what they are doing, preferably. At worst, they do not really care because they do not really do anything.
Lack of transparency. Today, showing the stages being performed in your project to the audience is considered an industry standard in crypto. If developers do not release code, demo / beta versions of their product, behind-the-scenes video or other types of reports on their progress, maybe they have nothing to show.
If you have found an ICO campaign that displays any of the above, and especially any combination thereof, it is best to avoid contributing money to it.
Hard to avoid, here is some tips.
3 Ways to Identify an ICO Scam:
1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown.
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token.
3. The Whitepaper Sets Unrealistic Goals
If the whitepaper sets an unrealistic development schedule, it either means the developers are using deceptive tactics to attract token buyers or they lack the necessary experience to give a sensible scope to the project. Either way, this does not bode well for the success of the project and its corresponding token.
3 Ways to Identify an ICO Scam:
1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown.
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token.
3. The Whitepaper Sets Unrealistic Goals
If the whitepaper sets an unrealistic development schedule, it either means the developers are using deceptive tactics to attract token buyers or they lack the necessary experience to give a sensible scope to the project. Either way, this does not bode well for the success of the project and its corresponding token.
Well said. Would give you a merit if I had one available to give.
The first thing i considered before putting my money on any i c o is the profile of the devoloper team behind the project if its anonymous then i wont be comfortable in investing.... Have you checked medichain, its one of the best i c o you need to invest on, just try to read about it an you will be convinced to invest because of the real use case...
The first element that you should check is the transparency of developer. A few months, ago I made a mistake by contributing to the ICO translation program without checking the background of the developer and developer ran away with the entire amount he generated through ICO so it was a scam. There are some other elements too but this is the prime element to determine the authenticity of the project. I would recommend you to spend as much as time in learning and understanding from the experiences of other members.
Jump to: